News Brief: IMF Managing Director Welcomes Netherlands’ ESAF Contribution
April 30, 1999
IMF Managing Director Welcomes Netherlands’ ESAF Contribution
International Monetary Fund (IMF) Managing Director Michel Camdessus welcomed the Netherlands’ decision to lend SDR 250 million (about US$338 million) to the ESAF Trust’s Loan Account, which provides financial support to the world’s poorest countries.
Camdessus said: "The Enhanced Structural Adjustment Facility (ESAF) is central to our efforts to assist on concessional terms low-income countries undertaking important macroeconomic adjustment and structural reforms.
"We have approached members to provide loan resources to the current ESAF and have received positive indications from some countries. Today, I greatly welcome the decision of the Netherlands’ authorities to meet this request, and I continue to hope other members will step forward to support this effort to create the basis for high and sustainable growth in the low-income nations," he said.